Commercial Brokers Association

News Release: 6/22/2017

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June 22, 2017

Apartment Fund Manager Opens San Francisco Office and Seeks Deals in Bay Area


Greensboro, N.C.-based Bell Partners has recently opened a regional office in San Francisco to pursue investment opportunities for the first time in both Northern and Southern California. The funding for these acquisitions will be the manager’s $600 million equity raise for its Bell Apartment Fund VI.  READ MORE >>>


Google Seeks a Strong Foothold in San Jose’s Downtown

 
Google’s interest in transforming an integral part of Downtown San Jose received an initial green light by City Council at a June 20 hearing. Council authorized the City to execute an Exclusive Development Agreement, allowing conversations between Google and the City to commence regarding the company’s possible purchase and development of City-owned property in and around Diridon Station.  READ MORE >>>


Blackstone Pays $65MM to Acquire San Jose Hotel


New York City-based Blackstone Real Estate Income Trust (BREIT) has paid $65 million to acquire the 236-room Hyatt Place San Jose Downtown hotel complex in downtown San Jose, as stated by information from the Blackstone website, bxreit.com.  READ MORE >>>
 
WENDEL ROSEN SURVEY
 

Rent or Buy? 2017 Begins with Spike in Number of Renters Shopping for Homes


In a sign that consumers may be shifting preferences from renting to homeownership, a new TransUnion (NYSE:TRU) analysis found that 55% of those who shopped for a mortgage in Q1 2017 were non-homeowners – most of whom are renters.  READ MORE >>>


Pacific Premier Bank Awarded $1.16MM by the Federal Home Loan Bank of San Francisco to Assist Low- to Moderate-Income Housing Across California


Pacific Premier Bancorp, Inc. (NASDAQ: PPBI), the holding company of Pacific Premier Bank, announced that the Bank has been awarded three grants totaling $1.16 million through the Federal Home Loan Bank of San Francisco’s (“FHLBSF”) Affordable Housing Program (“AHP”). Pacific Premier Bank will use the grants to help develop three separate low- to moderate-income housing projects within the communities it serves.  READ MORE >>>